Believe it or not, getting a pink slip or making a career transition can be lucrative in the long run. Transitioning executives enjoyed a 6% pay raise on average with new jobs, according to research by Drake Beam Morin (DBM), an international outplacement and career transition firm in Boston.
The study found that 84% of transitioning executives worldwide secured jobs in new organizations, likely due to tight labor markets in several countries and industries. In healthcare, the factors driving moves into and out of healthcare are cost-containment and merger/acquisitions-related activities, according to DBM. While many executives go from one provider to another, a significant number of healthcare job seekers have transitioned into opportunities at public, private and government organizations.
The key to making successful transitions is being clear about your ideal work preferences, skills and competencies then doing your homework on identifying growth opportunities in other industries, according to DBM's Carl Weisinger, who gave a speech at a healthcare conference in San Francisco last month.
Examples of marketing executives that have moved out of healthcare include:
- A marketing/sales executive at a large provider took a staff position at an insurance publishing company.
- A director of communication at a biological science provider landed a marketing job at a university.
- A healthcare sales manager became an account manager for a meat company.
(DBM, Ginger Green, 770/924-1250)